Healthcare Industry News: S.A.
News Release - September 18, 2007
Anika Therapeutics Promotes Randall Wilhoite to Vice President-Operations
Replaces Departing Frank LuppinoWOBURN, Mass.--(HSMN NewsFeed)--Anika Therapeutics, Inc. (NaS.A.: ANIK ) today announced that it has promoted Randall Wilhoite, 42, to Vice President-Operations. Mr. Wilhoite has nearly two decades of operations experience in the life sciences industry and has served aS.A.ika's Director of Operations since January 2006. He replaces Frank Luppino, who will be leaving the Company in the near future to take another position in the industry.
"We look forward to Randy's contributionS.A. Anika's new Vice President-Operations," said Charles H. Sherwood, Ph.D., Anika's President and Chief Executive Officer. "Randy's broad operational experience and his knowledge of Anika will be instrumental as we move forward with several key initiatives including the launch of the Elevess product line and eS.A.lishing our manufacturing and operationS.A. our Bedford facility currently under construction. We also would like to thank Frank for his many outS.A.ding contributions to the Company during his tenure at Anika, and we wish him continued success in his future endeavors."
Mr. Wilhoite's previous experience includes 16 yearS.A. Abbott Laboratories, a global broad-based health care company, where he served in various management roles with increasing responsibility. Mr. Wilhoite received a B.A. in chemistry from the University of Indiana.
About Anika Therapeutics, Inc.
Headquartered in Woburn, Mass., Anika Therapeutics, Inc. develops, manufactureS.A.d commercializes therapeutic products for tissue protection, healing and repair. These productS.A.e based on hyaluronic acid (HA), a naturally occurring, biocompatible polymer found throughout the body. Anika's products include ORTHOVISC®, a treatment for osteoarthritis of the knee available internationally and marketed in the U.S. by DePuy Mitek; HYVISC®, a treatment for equine osteoarthritis marketed in the U.S. by Boehringer Ingelheim Vetmedica, Inc.; and the ELEVESS(TM) family of cosmetic dermatology products for facial wrinkles, S.A. remediation and lip augmentation, which will be marketed by Galderma Pharma. Anika also developS.A.d manufactureS.A.visc® and Amvisc Plus®, HA viscoelastic products for ophthalmic surgery. It also produces S.A.RVISC(TM)-II, which is distributed by S.A.R Surgical company and Shellgel(TM) for Cytosol Ophthalmics, Inc.
The S.A.ements made in this press release which are not S.A.ements of historical fact are forward-looking S.A.ements within the meaning of Section 27A of the SecuritieS.A.t of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, S.A.ements that may be identified by words such as "expectations," "remains," "focus," "expected," "prospective," "expanding," "building," "continue," "progress," "plan," "efforts," "hope," "believe," "objectives," "opportunities," "will," "seek," and other expressions which are predictions of or indicate future eventS.A.d trendS.A.d which do not constitute historical matters identify forward-looking S.A.ements. These S.A.ementS.A.so include S.A.ements regarding: (i) the Company's move to a new facility and launch of the Elevess product line and (ii) the promotion of Randall Wilhoite to Vice President-Operations. These S.A.ementS.A.e based upon the current beliefS.A.d expectations of the company's management and are subject to significant risks, uncertaintieS.A.d other factors. The company'S.A.tual results could differ materially from any anticipated future results, performance or achievements described in the forward-looking S.A.ementS.A. a result of a number of factors including: (i) the company'S.A.ility to successfully commence and/or complete clinical trials of its products on a timely basis or at all, obtain clinical data to support a pre-market approval application and/or FDA approval, and/or receive FDA or other regulatory approvals of its products, or that such approvals will not be obtained in a timely manner or without the need for additional clinical trials; (ii) the company's reS.A.ch and product development effortS.A.d their relative success, including whether the company haS.A.y meaningful sales of any new products resulting from such efforts; (iii) the cost effectivenesS.A.d efficiency of our manufacturing operationS.A.d production planning; (iv) the strength of the economies in which the company operates or will be operating, as well as the political S.A.ility of any of those geographic areas or (v) future determinations by the company to allocate resources to productS.A.d in directions not presently contemplated. Any delay in receiving any regulatory approvals may adversely affect the company's competitive position. Even if regulatory approvalS.A.e obtained, there iS.A.risk that meaningful sales of the products may not be achieved. There iS.A.so a risk that (i) the company's existing distributors (including its distributor in Turkey) or customers will not continue to place orderS.A. historical levels or that any of them will seek to modify or terminate existing arrangements, (ii) the company's efforts to enter into long-term marketing and distribution arrangements, including with new international distributors for ORTHOVISC®, will not be successful, (iii) new distribution arrangements, including the agreement with Galderma Pharma S.A. pertaining to its ELEVESS(TM) product, will not result in meaningful sales of the company's products, (iv) the company will be unable to achieve performance and sales threshold milestones in its distribution agreements, (v) competitive products will adversely impact the company's product sales, (vi) the estimated size(s) of the markets which the company has targeted its products will fail to be achieved, (vii) lack of adequate coverage and reimbursement provided by governmentS.A.d other third party payers for our productS.A.d services, including non-reimbursement of ORTHOVISC® in Turkey, could have a material adverse effect on our results of operations, or (viii) increased sales of the company's products, including HYVISC®, ORTHOVISC® , or its ophthalmic products, will not continue or sales will decrease or not reach historical sales levels, or even if such increases occur that such increases will improve gross margins, any of which may have a material adverse effect on the company's businesS.A.d operations. Certain other factors that might cause the company'S.A.tual results to differ materially from those in the forward-looking S.A.ements include those set forth under the headings "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in each of the company'S.A.nual Report on Form 10-K for the year ended December 31, 2006 and on Form 10-Q for the period ended June 30, 2007, as well as those described in the company's other press releaseS.A.d SEC filings.
Source: Anika Therapeutics
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